Penguatan Sustainability Reporting UMKM: Peran Green Financing dan Green Servant Leadership melalui Pro-Environmental Behavior

Galuh Aninditiyah; Nindya Oktavia Kurniawati; Olivia Rahmala Iwan; Najwa Ramadhani Putri; Aghisni Najatasilm

doi:10.61132/anggaran.v4i3.2470

Authors

Galuh Aninditiyah Universitas Sains dan Teknologi Komputer
Nindya Oktavia Kurniawati Sekolah Tinggi Ilmu Ekonomi Studi Ekonomi Modern
Olivia Rahmala Iwan Sekolah Tinggi Ilmu Ekonomi Studi Ekonomi Modern
Najwa Ramadhani Putri Universitas Sains dan Teknologi Komputer
Aghisni Najatasilm Universitas Sains dan Teknologi Komputer

DOI:

https://doi.org/10.61132/anggaran.v4i3.2470

Keywords:

Green Financing, Green Servant Leadership, MSMEs, Pro-Environmental Behavior, Sustainability Reporting

Abstract

Sustainability disclosure among Micro, Small, and Medium Enterprises (MSMEs) remains underdeveloped, largely because limited financial capacity and organizational capability continue to restrict their ability to formalize environmental commitments into structured reports. This study examines how two external and internal drivers Green Financing and Green Servant Leadership shape Sustainability Reporting practices among MSME actors in Central Java, Indonesia, and tests whether Pro-Environmental Behavior serves as an intermediary mechanism connecting these drivers to reporting outcomes. An explanatory quantitative design was applied to 200 MSME owners and managers selected through purposive sampling, with data processed via Structural Equation Modeling Partial Least Squares (SEM-PLS) using SmartPLS 3. Findings reveal that Pro-Environmental Behavior, Green Financing, and Green Servant Leadership each exert a direct, statistically significant, positive influence on Sustainability Reporting. A particularly strong effect emerges between Green Financing and Pro-Environmental Behavior, while the leadership variable shows no comparable influence on that behavioral outcome. Testing further reveals that Pro-Environmental Behavior does not operate as a significant moderator in either financing-reporting or leadership-reporting pathways, positioning it instead as a direct contributor to reporting outcomes rather than a conditioning variable. The study contributes practical guidance for MSME practitioners, financial institutions, and policymakers seeking to strengthen sustainability governance at the small-enterprise level.

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